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Article | August 1, 2011
Pharma outsourcing grows, generics gaining market share
Overall, global demand for healthcare and therefore related products will rise with emerging markets.
Slice and dice the research how you will, global trends in pharmaceutical contract manufacturing and packaging appear to paint a relatively healthy picture despite, or perhaps because of, the slow economy.
Overall, global demand for healthcare and therefore related products will rise with emerging markets. Rising economies, and rising investment in healthcare development, will lead to correspondingly strong demand for packaging, according to a study, “The Healthcare Packaging Market 2011-2021” from research firm Visiongain. The study forecasts that the global healthcare packaging market value will reach $87.3 billion this year.
More broadly speaking, global demand for pharmaceutical contract manufacturing services is expected to grow at an annual rate of 11 percent through 2013, according to another study from MarketResearch.com.
The study cites rising demand for contract services as cost pressures combine with the slow economy to push pharma firms to outsource. Leading pharma companies are among those looking at this model as a means to expand into the biosimilars and generics segments.
And generics are growing, with global spending set to rise to 39 percent of all pharmaceuticals by 2015, reaching nearly $1.1 trillion. That’s roughly double generics’ share from about five years back, but represents a slowing compound annual growth rate of 3 to 6 percent over the next five years vs. the 6.2 percent annual growth seen over the past five years. Lower U.S. spending growth, patent expiries in developed markets, emerging markets and global policy are covered in a new, downloadable report by IMS Institute for Healthcare Informatics.
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